Canada’s Gateway Casinos seeks $1.3 billion in private debt

Friday, October 25, 2024 3:40 PM
Photo:  CDC Gaming
  • Carmen Arroyo and Paula Sambo, Bloomberg News

One of Canada’s biggest gaming companies is seeking as much as C$1.8 billion (US$1.3 billion) of private debt to refinance loans and pay owners a dividend, in what would be one of the country’s biggest such deals this year.

Private credit continues to be the biggest focus for limited partners in the next 12 months, according to a new Goldman Sachs survey. Goldman Sachs Global Head of Client Business, Asset and Wealth Management Division Matt Gibson discusses on “Open Interest”

Gateway Casinos & Entertainment Ltd. is working with Morgan Stanley on the outreach to lenders, according to people with knowledge of the matter who asked not to be identified as the talks are private. Conversations are preliminary and details — including the size — of a deal may change, they said.